Coronavirus UK Updates: Economy grew by 0.4 per cent in October

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Coronavirus UK Updates: Matt Hancock to announce tier changes following review
Coronavirus UK Updates: Matt Hancock to announce tier changes following review

The UK economy grew by 0.4 per cent month-on-month in October but still remains 7.9 per cent below pre-pandemic levels,

The Office for National Statistics (ONS) said the economy has now grown for six months running, although the rise is lower than the 1.1 per cent increase seen in September.

Gross domestic product (GDP) has still not fully made up the 25.3 per cent fall seen during the first and second quarters of 2020.

Experts also expect GDP to go back into reverse in the final quarter after the impact of the second national lockdown in England is felt by businesses.

Jonathan Athow, deputy national statistician at the ONS, said: “The UK economy has now grown for six months running but still remains around eight per cent below its pre-pandemic peak.

“Public services output increased, while car manufacturing continued to recover and retail again grew strongly.

“However, the reintroduction of some restrictions saw services growth hit, with large falls in hospitality, meaning the economy overall grew only modestly.”

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